Baltimoresun.com : Business (32)

3 things to watch for from the Federal Reserve on Wednesday

It will come as no surprise if the Federal Reserve has an announcement to make when its latest policy meeting ends Wednesday: That it's ready to begin paring its enormous $4.5 trillion portfolio containing Treasurys and mortgage bonds. The Fed expanded its bond holdings — the major assets ...

Chemical company will investigate acid leak in South Baltimore

Officials from Solvay USA Inc. launched an investigation Tuesday into a toxic acid leak at the company’s chemical plant in South Baltimore’s Fairfield industrial area. After a cloud of chlorosulfonic acid escaped into the air Monday morning as a tank truck was being unloaded, nearby ...

FCC requests additional information on Sinclair Broadcast deal to acquire Tribune Media

Federal regulators are asking Sinclair Broadcast Group Inc. to show how it plans to comply with TV station ownership limits after it completes its proposed $3.9 billion takeover of Tribune Media Co. The Federal Communications Commission said it needs that and other information to determine ...

President of Economic Alliance of Greater Baltimore to step down

Shannon Landwehr, president and CEO of the Economic Alliance of Greater Baltimore, will step down at the end of the year, the organization announced. Landwehr, who has led the regional economic development association since April 2016, plans to pursue “other professional opportunities,” ...

Senators question whether Dragonfly hacks hit Maryland power companies

Responding to reports of an effort to hack into U.S. power companies, Sens. Ben Cardin and Chris Van Hollen are asking the Department of Homeland Security whether any firms in Maryland were hit. In a letter to acting Homeland Security Secretary Elaine Duke, the two Democrats said they are ...

Tons of Amazon customers just got a baby registry email — one they weren't expecting

Amazon users reported receiving a mass email Tuesday telling them that someone had bought a gift off their Amazon baby registry — but many recipients said they had no registries and were not expecting children anytime soon. Awkward. Twitter exploded in reaction as the message rippled across ...

Don't expect a big raise next year, survey says

About that pay raise next year: Don’t expect much of a bump in salary, and bonuses may be hard to come by as well, except for those perceived as high performers. Salary increases are expected to be nearly flat next year at 3 percent, up slightly from 2.9 percent in 2017, according to an ...

Greenmount Avenue warehouse to be converted to 50 artist apartments

A Baltimore developer plans to turn a vacant warehouse near Green Mount Cemetery into a 50-unit apartment building for artists. Half the units are to be made available at a reduced rate by allowing artists to barter services such as painting or providing art to decorate the building, in exchange...

Toys R Us files for bankruptcy but keeps stores open

Toys R Us, the big box toy retailer struggling with $5 billion in debt and intense online competition, has filed for bankruptcy protection ahead of the key holiday shopping season — and says its stores will remain open for business as usual. The company said the proceedings are a way for ...

Crocs' billion-dollar strategy: Stay ugly

Crocs, maker of perhaps the most polarizing shoe of our time, is making a comeback. The company's signature foam clog fell out of favor a decade ago, but now it is a star reborn on Twitter and beyond: On the runway, in the pages of Vogue and on feet of people who feel a little funny about it but...

Erickson Living to open new retirement community in Fairfax

Erickson Living, a Baltimore-based retirement community developer and manager, is opening a new facility in Fairfax County. Erickson has entered into an agreement to purchase the 78-acre Northern Virginia Training Center sites in Fairfax from Virginia to convert into an age-restricted continuing...

Ted Levitt announces he's sold Chick and Ruth's in Annapolis

An Annapolis landmark for more than 50 years has a new owner.Ted Levitt, owner of Chick n' Ruth’s on Main Street, announced on his personal Facebook page at 8 p.m. Monday that he has sold the business started by his parents.“After 52 years of working in my family business I thought it ...

Baltimore plant involved in HAZMAT incident is part of global chemical giant

The company whose plant sent a cloud of caustic acid over South Baltimore Monday is one of the world’s largest chemical companies, last year selling about $13 billion in products intended for everything from planes, cars and medical devices to materials for food and beauty products. The ...

'DNA Day' planned for Ravens' game undergoes federal and state scrutiny

A Massachusetts biotech firm still intends to give away DNA test kits to fans at a Ravens game this season, according to the team, but the promotion first must undergo scrutiny from a federal agency and the state. The “DNA Day” event, scheduled for last Sunday’s Ravens-Cleveland ...

University of Maryland pharmacy school cancels plans to train medical marijuana workers

Citing legal concerns, the University of Maryland’s School of Pharmacy has canceled plans to offer training for those who work in the medical marijuana industry, After consulting with the Maryland attorney general’s office, the university asked pharmacy school officials to cancel the ...

Northrop Grumman aims for space with $7.8-billion bid to buy Orbital ATK

With its $7.8-billion bid to buy Orbital ATK Inc., Northrop Grumman Corp. is betting that the militarization of space and missile defense will get increasing attention — and dollars — from the Pentagon. Orbital, based in Dulles, Va., has developed several small to medium-sized rockets ...

Medifast relocating headquarters to Harbor East from Baltimore County

Medifast is relocating its corporate headquarters from a suburban business park tucked away in Owings Mills to one of the highest profile addresses along Baltimore’s Inner Harbor. The weight loss and healthy living services company said Monday it plans to move 160 employees to offices in the ...

How a lawyer turned his homemade treats into America's best-selling ice cream pint

With a $20 ice cream maker and a hunger for a more healthful indulgence, Los Angeles lawyer Justin Woolverton concocted a dessert that quickly developed a cultlike following. A few years later, his line of light ice cream, called Halo Top, has exploded into surprising market dominance. Halo ...

Promotion offering DNA test kits to Ravens fans to be rescheduled

A promotion offering free DNA test kits to Ravens fans Sunday has been put off until later this season, biotech company Orig3n said, in response to unspecified concerns raised by state officials. Fans were to have been offered the kits for “DNA Day” at M&T Bank Stadium for the Ravens’ ...

Alan I. Elkin, co-founder of Advance Business Systems whose TV spots made him a local celebrity, has died

Alan I. Elkin, co-founder with his wife of Advance Business Systems, who spoke the memorable line “We live and breathe this stuff” in TV ads that made him a local celebrity, died Sept. 9 of complications from an infection at Johns Hopkins Hospital. The longtime Pikesville resident was 85. ...

Kamenetz: Baltimore County won't make a play for Amazon project

Baltimore County won’t be making a bid for Amazon’s second headquarters campus after all. Baltimore County officials initially touted several locations in the suburbs that might work for the e-commerce giant’s massive new project. But County Executive Kevin Kamenetz said Friday he ...

Hogan to lobby for bringing Amazon HQ to Baltimore

Maryland Gov. Larry Hogan said he will personally lobby Amazon CEO Jeff Bezos to build the company’s massive new headquarters in Baltimore.Hogan said he believes pitching Port Covington is the state’s best bet to win the new Amazon campus and its promised 50,000 new jobs.“We're going ...

Baltimore-based freight logistics firm John S. Connor celebrates 100th anniversary

When John S. Connor founded his customs brokerage firm during World War I, he headquartered it at 33 S. Gay St. — close enough to Baltimore’s old Customs House for messengers to ferry documents back and forth by hand. One hundred years later, the family-owned company uses an international ...

Maryland sees second-highest job gains in 7 years during August

Maryland added more than 14,000 jobs in August, the second-highest monthly gain in seven years, as the unemployment rate dipped to a pre-recession level of 3.9 percent, the U.S. Labor Department said Friday. The state’s jobless rate remained lower than the nation’s, which was 4.4 percent ...

Ravens fans will get DNA test kits Sunday in unusual NFL promotion

Gone are the days when sports-team giveaways were limited to T-shirts, bobbleheads, free-sandwich coupons and the like. The Ravens on Sunday are adopting a unique approach: The tens of thousands of fans entering M&T Bank Stadium for the NFL team’s home opener against the Cleveland Browns will ...

Md. business forum casts a wary eye on Washington

A quarter of Maryland’s economy depends on federal spending, inextricably linking the state to actions that Congress and the Trump administration are now considering on health care, taxes and all other budget items, a trio of experts told local business leaders Thursday. “The hard reality ...

Under Armour unveils footwear design center in Portland, Ore., near Nike headquarters

Under Armour has unveiled a footwear design and development center in Portland, Ore. It’s less than a dozen miles from the global headquarters of Nike, its archrival. The Baltimore brand calls the center an “innovation hub.” It includes a biomechanics lab and training center for ...

Laureate Education's founder and CEO to step down at end of year

Laureate Education Inc. founder Douglas Becker is stepping down as president and CEO of the Baltimore for-profit university system at the end of the year.Two of Laureate’s most-senior and longest-serving executives have been named his successors, effective Jan. 1. Eilif Serck-Hanssen, 51, the ...

Ravens fans will get DNA test kits Sunday in unusual NFL promotion

Gone are the days when sports-team giveaways were limited to T-shirts, bobbleheads, free-sandwich coupons and the like. The Ravens on Sunday are adopting a novel approach: The tens of thousands of fans entering M&T Bank Stadium for the NFL team’s home opener against the Cleveland Browns will ...

Goldman Sachs invests $233 million in Port Covington

Goldman Sachs plans to invest $233 million to join Under Armour CEO Kevin Plank’s development firm in remaking Port Covington, becoming a joint owner of hundreds of acres along the Patapsco River slated to become a $5.5 billion mix of offices, housing, shops and restaurants. The global ...

Maryland attorney general calls on Equifax to stop trying to profit from data breach

With about 3 million Marylanders among the 143 million Americans whose personal financial data was breached in a hack of the credit rating company Equifax, the Maryland attorney general has called on the company to fix its communication with consumers and to stop trying to profit from the breach....

Investors pump $4.8 million into Snag-A-Slip

Several venture capital organizations have invested $4.8 million in Snag-A-Slip, the Baltimore-based online boat slip rental firm announced Wednesday. Like the Airbnb of the sea, Snag-A-Slip connects traveling boaters with marinas with spare slips available for short-term rent. Founded in ...